CMSMEs need favourable ecosystem to grow: experts at The Daily Star, Action Aid discussion

Bangladesh needs a favourable ecosystem for boosting the cottage, micro, small, and medium enterprises (CMSMEs) sector to create employment and ensure the development of the country, experts said at a webinar today.

To create the ecosystem, they recommended providing adequate finance, a favourable banking environment, and policy support and easing documentation for starting a business.

The grassroots CMSMEs also need to be included in all the benefits of the government, they said at the programme titled "Post Covid Cottage, Micro, Small, and Medium Enterprises (CMSMEs): Youth and Women Responsive Strategy" organised jointly by The Daily Star and ActionAid Bangladesh.

The entrepreneurs are facing many problems as the ecosystem for the CMSMEs has not been created yet in Bangladesh, said Ali Sabet, technical assistance to Bangladesh Small and Cottage Industries Corporation.

CMSMEs are needed practical coaching, mentoring which has been missing here, he said adding, "This is the real issue here".

About the banking environment, he said CMSMEs face problems when they go to the lenders for finance as they are not the targeted customers of banks.

So, an alternative way is needed to provide loans to the CSMEs where a state financing authority can work well, he added.